Tag: millionaire

The follow up to The Millionaire Next Door is underway, and part of that effort has been analyzing data and merging the findings into the drafted chapters of the new book. A few weeks ago, I visited the team at Kennesaw State University who worked with us to administer the massive survey to assess the habits, behaviors, […]

When I was a boy, we lived in a small apartment in a blue-collar section of the Bronx. Just a quarter mile away was the wealthiest neighborhood in New York City, a residential community called Fieldston, aka Mansionville! I was nine years old. I told my eleven-year-old sister, “I’m disgusted with the marginal propensity of […]

by Sarah S. Fallaw, Ph.D., Director of Research at AMI In the Just Say No era of the 1980s, there were several memorable public service announcements (PSAs) that aired. None were perhaps as memorable as the one involving a father and son. The son, upon being asked who taught him to use various types of […]

From time to time I like to share some of the notes and e-mails I receive from millionaires in hopes that you may gain insight into to the lifestyles of these self made, financially independent people. One such profile came from a respondent to my latest national survey. You may find Mrs. T and her […]

Recently, Dave Ramsey magnanimously invited me to be a guest on his show. During the interview, Dave asked me about the changes I had noticed among Americans since the recent economic meltdown. One of the changes I mentioned was the precipitous decline in the number of people who advised me that “$1 million (in net worth) – […]

A producer from ABC’s 20/20 news magazine television show once asked if I could identify neighborhoods where the millionaire next door types live. After checking my database, I pinpointed several neighborhoods where these people resided. The resulting televised program certainly raised eyebrows. Most of the homes depicted were in the $200,000 to under $400,000 price range. […]

In what types of careers do we find the balance sheet affluent, the millionaires next door? Many take an unconventional approach. Below is one of my favorite stories about careers, adapted from Millionaire Women Next Door. Marion was trained to be sensitive to opposing viewpoints and countertrends. Being different in thought and deed was something to be proud […]

More from our millionaire next door in the Southwest – Part II of the Millionaire Next Door story I received last month. We read in Part I that our “scientist of wealth” became a millionaire while his annual income was $78,000 and now has a net worth of $2.4 million. He and his wife did not/do not act rich, and […]

Case studies are a critical part of my research on millionaires and the affluent. Below is the first part of a Millionaire Next Door story I received last month from a “scientist of wealth.” As you will see, you do not have to have a seven figure income to become a millionaire. A Letter from […]